phillipsjk
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Activity: 1008
Merit: 1001
Let the chips fall where they may.
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August 06, 2014, 06:43:00 AM |
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Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
Because people overestimate how random their passwords really are.
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James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE 0A2F B3DE 81FF 7B9D 5160
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hamiltino
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August 06, 2014, 07:44:31 AM |
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blockchain.info is my go to lol.
Will be using the SAFE Network to store my private keys however.
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stacking coin
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sapta
aka BitRentX
Staff
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Activity: 1718
Merit: 1206
Yield.App
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August 06, 2014, 09:54:42 AM |
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Brain Wallet. I'll use a poem that I wrote when I was a child.
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shawshankinmate37927
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August 06, 2014, 11:46:33 AM |
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Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
Because people overestimate how random their passwords really are. How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy? A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys?
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"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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DannyElfman
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August 06, 2014, 12:01:00 PM |
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Brain Wallet. I'll use a poem that I wrote when I was a child. Very good announcing that over the internet, if one can track you down, they can search for that poem
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This spot for rent.
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jonald_fyookball
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Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
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August 06, 2014, 12:04:19 PM |
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Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
Because people overestimate how random their passwords really are. How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy? A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys? high entropy is good, but why over complicate. If you already have high entropy, you're already protected from brute force attacks. But yes, encrypt any backups of the seed that aren't in your brain.
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Stery
Member
Offline
Activity: 118
Merit: 100
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August 06, 2014, 12:10:32 PM |
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Would use bitcoin core in ubuntu
Make several wallets and store bitcoin amounts
Note down the list of the bitcoin address where the coins are stored.
Logout and only login when I require them to spend / send them to someone
Copy the wallets on removable storage devices
Do check the balances on those addresses from time to time to make sure all are okay
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sapta
aka BitRentX
Staff
Legendary
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Activity: 1718
Merit: 1206
Yield.App
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August 06, 2014, 01:04:21 PM |
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Brain Wallet. I'll use a poem that I wrote when I was a child. Very good announcing that over the internet, if one can track you down, they can search for that poem When I was a child, I wrote the poem on a shitty paper. I still keep that. Never posted it online
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Razick
Legendary
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Activity: 1330
Merit: 1003
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August 06, 2014, 01:36:16 PM |
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Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
Because people overestimate how random their passwords really are. That's true, but mine really are very random. Could it be brute forced? Maybe, but I don't think that risk is remotely close to the risk of me losing a paper wallet or having an online wallet hacked.
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ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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coinsolidation
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August 06, 2014, 11:46:38 PM |
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inuit is quite good.
For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.
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DannyElfman
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August 07, 2014, 01:07:19 AM |
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inuit is quite good.
For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.
But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast
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This spot for rent.
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coinsolidation
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August 07, 2014, 01:10:33 AM |
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inuit is quite good.
For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.
But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all
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DannyElfman
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August 07, 2014, 01:12:34 AM |
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inuit is quite good.
For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.
But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all Haha true, but then there is always the risk that you get a head trauma and forget the password or parts of it. And such accidents are not very rare. I'd rather use BIP0038 protected wallet or split wallets using shamir secret sharing
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This spot for rent.
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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August 07, 2014, 03:35:24 AM |
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I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.
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TheButterZone
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Activity: 3038
Merit: 1032
RIP Mommy
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August 07, 2014, 06:45:15 AM |
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I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.
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Saying that you don't trust someone because of their behavior is completely valid.
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EternalWingsofGod
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August 07, 2014, 06:47:28 AM |
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Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc. I'm looking for real responses and ideas. Please keep the trolling to a minimum Use something called a trezor its worth 119 dollars to sleep at night http://www.bitcointrezor.com/https://www.youtube.com/watch?v=xObssnQwVgg
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ethought
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Activity: 1316
Merit: 1000
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August 07, 2014, 03:21:39 PM |
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BitKee
or
Cryobit
both provide very durable fire / flood etc proof metal 'paper' wallets.
Use a BIP38 encrypted key. Keep one at home / office and one in a safety deposit box?
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keithers
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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August 07, 2014, 09:36:48 PM |
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So nobody would store it on BTC-E with no 2FA? haha just kidding...
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asganauei
Newbie
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Activity: 41
Merit: 0
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August 07, 2014, 09:58:47 PM |
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I would put them in cold storage with the wallets stored on usb sticks, splitted in 5 bitcoins each pendrive.
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ShameOnYou
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August 07, 2014, 11:04:08 PM |
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Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc. I'm looking for real responses and ideas. Please keep the trolling to a minimum Use something called a trezor its worth 119 dollars to sleep at night http://www.bitcointrezor.com/https://www.youtube.com/watch?v=xObssnQwVggIDK if something like trezor would be something I would want to keep that kind of money protected by. It is very new and it's vulnerabilities have likely not yet been discovered and exploited. Even though this would be trusting your coins with a 3rd party, I would say coinbase vault would be the way to go for me.
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